An Item That a Buyer Sees as Being a Risky

question 74

True/False

An item that a buyer sees as being a risky purchase would be likely to have a higher-than-normal markup percentage.

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Definitions:

Substitute Check

An electronic or digital version of an original paper check, used in the banking industry to streamline check processing.

Warranties

Legally binding promises or guarantees that a product or service will meet specified criteria of quality, performance, or reliability.

Bad-Check Statute

Laws that penalize individuals who knowingly write checks from a bank account without sufficient funds.

Drawee Bank

The bank upon which a check is drawn, responsible for paying the check amount to the bearer or designated payee.